Newsletter
The Adani Group plans to pour over $11 billion into airports by 2030.
It is building new terminals, upgrading runways, and expanding into aircraft maintenance and services. And yes, an airport's IPO is firmly on the runway.
What’s cooking: Adani Airport Holdings is eyeing bids for 11 more airports under the government’s privatisation push. Think Varanasi, Bhubaneswar, Amritsar bundled assets where profitable airports subsidise weaker ones.
The group is also open to a strategic investor ahead of a likely listing by FY28, possibly via a demerger from Adani Enterprises.
Why it matters: airports are long-term, cash-generating assets. The business is already EBITDA-positive, and cash-flow positivity is targeted within three years, key milestones before any IPO.
The group is eyeing a slice of aviation services as it bids on services from AI Engineering Services to bring heavy aircraft maintenance back to India.
